Maxim Group
Maxim Group LLC
Maxim Group is a privately held investment bank, broker-dealer and wealth manager headquartered in New York. Its equity research concentrates on small-cap companies across healthcare, technology, financial services and industrials.
Company history
Maxim Group was formed in 2002 through a management buyout, led by Michael Rabinowitz, of core US assets of Investec Ernst & Company, and was set up as an independent, 100% employee-owned firm. Freedom Holding agreed to acquire it in February 2023, but the parties terminated the deal that October. Clifford Teller, head of investment banking from 2002 to 2022, became chairman and chief executive in March 2024.
- 2002Formed via management buyout of Investec Ernst & Company assets
- 2023Freedom Holding acquisition agreed, then terminated
- 2024Clifford Teller becomes chairman and chief executive officer
Research
Maxim's research team covered about 200 companies as of 2021, with eight senior publishing analysts focused on healthcare, technology, media, financial services and industrials. Stocks are rated Buy, Hold or Sell on expected performance against a relevant index over the next 12 months, with a separate Speculative risk rating for early-stage companies. As of August 2026, 86% of rated stocks were Buy and none were Sell.
Coverage12M
- Stocks
- 129
- Ratings
- 93
- Price targets
- 98
- Median upside
- +98.1%
- Upgrades
- 8
- Downgrades
- 24
- Initiations
- 2
- Reiterations
- 59
- Targets raised
- 22
- Targets cut
- 10
- Positive73%60
- Neutral27%22
- Negative0%0
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 AAPLApple Inc. | Buy | $350 |
 RZLTRezolute, Inc. | Buy | $14 |
 WKSPWorksport Ltd. | Buy | $2 |
 NICNicolet Bankshares, Inc. | Buy | $173 |
 NUTXNutex Health, Inc. | Buy | $205 |
 ENVAEnova International, Inc. | Buy | $200 |
 IMPPImperial Petroleum Inc. | Buy | $9 |
 BWXTBWX Technologies, Inc. | Hold | $140 |
 DHCDiversified Healthcare Trust | Buy | $10.50 |
 DVLTDatavault AI Inc. | Buy | $4 |
Analysts24M
- Tate SullivanWKSP · HMR · FEAM12
- Michael DianaCFR · DHC · BEEP8
- Jason McCarthyZVRA · BNGO · CAPR7
- Tom ForteAAPL · AMZN · RZLV7
- Anthony VendettiBHST · HLF · ICU6
- Allen KleeAIRE · EEX · IPM6
Recent actions
| Stock | Rating action | Rating | Target | Date |
|---|---|---|---|---|
| MRMerlin, Inc.MRLN | Target | $7 | Sep 18 | |
| TETelomir Pharmaceuticals, Inc. Common StockTELO | Target | $4 | Sep 17 | |
| UCU Power LimitedUCAR | Downgrade | Buy →Hold | Sep 15 | |
| CCCheche Group Inc.CCG | Downgrade | Buy →Hold | Sep 9 | |
| FIDeep Fission, Inc.FISN | Target | $17 | Aug 31 | |
| ICIntchains Group LimitedICG | Reiterate | Buy | $3 | Aug 24 |
| NXNEXGEL, Inc.NXGL | Downgrade | Buy →Hold | Aug 24 | |
| NVNvni Group Limited Ordinary SharesNVNI | Downgrade | Buy →Hold | Aug 20 | |
| DEDeFi Technologies Inc.DEFT | Downgrade | Buy →Hold | Aug 19 | |
| YCcbdMD, Inc.YCBD | Downgrade | Buy →Hold | Aug 17 | |
| NMNeuroOne Medical Technologies CorporationNMTC | Target | $3 →$5 | Aug 14 |
Similar coverage12M
References
- Maxim Group | Aboutmaximgrp.com
- MAXIM GROUP LLC - FINRA BrokerCheckbrokercheck.finra.org
- Freedom Holding Corp. Form 8-K on termination of Maxim Group purchase agreement (November 2023)ir.freedomholdingcorp.com
- Clifford A. Teller - Chairman and CEO, Maxim Group - LinkedInlinkedin.com
- Maxim Group Investment Banking Overview (October 2021)forums.capitallink.com
- Maxim Group 2Q26 Review & Outlook (rating disclosures, August 2026) - MarketScreenermarketscreener.com